The Union Budget has introduced significant changes that will impact taxpayers and the economy. The new income tax regime is simplified with revised slabs, offering potential tax benefits for many. The standard deduction has been increased to Rs. 75,000, providing additional relief. However, long-term and short-term capital gains taxes have been raised.
On the other hand, the government has committed a substantial Rs. 35,000 crore to green initiatives, signalling a focus on sustainable growth. The extension of the Prime Minister's Awas Yojana for two more years aims to boost affordable housing.
While these changes offer both advantages and disadvantages, their overall impact on individuals and the economy will unfold in the coming months.
In video- Rahul Tejnani
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We'll keep you updated with more details. Stay tuned!
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